26th-27th December, 2023

1. Union Minister of Health and Family Welfare Mansukh Mandaviya has launched ‘MedTech Mitra,’ a strategic initiative to empower MedTech innovators and advance healthcare solutions.
2. Cumulative installed capacity in rooftop solar segment in India has crossed 10 GW.
3. Himachal Pradesh Chief Minister has inaugurated 1st ever week-long Shimla Winter Carnival from 25 December 2023 to 5 Jan 2024 at the historic Ridge in Shimla.
4. Iran’s navy has added domestically produced advanced cruise missiles Talaeieh and Nasir.
5. India and Bangladesh have agreed to extend Indo-Bangladesh Protocol (IBP) route and declare Safardighi in West Bengal as the new port of call under Protocol on Inland Water Transit & Trade (PIWT&T).
6. Angola has left Organisation of the Petroleum Exporting Countries (OPEC) due to dispute over oil production quotas.
7. China has successfully launched three satellites into planned orbit by Long March-11 carrier rocket.
8. Small Industries Development Bank of India (SIDBI) has granted Rs 12.45 crore to ETO Motors to deploy 300 Electric 3-wheelers in Delhi and Hyderabad under SIDBI’s mission 50K-EV4ECO.
9. World Bank and Department of Economic Affairs have launched PPP Beginner’s e-course to improve collaboration between public and private sectors in infrastructure capacity-building.
10. National Bank for Agriculture and Rural Development (NABARD) has collaborated with the Asian Development Bank (ADB) and the Bill and Melinda Gates Foundation to address the adverse impact of climate change on the farming sector in India.
11. Insurance Regulatory and Development Authority of India (IRDAI) is set to launch ‘Bima Vistaar’, an all-in-one affordable insurance product covering life, health, and property.
12. Kerala has emerged most preferred state to work in India as per India Skills Report 2024.
13. CoinSwitch has published 2nd edition of its annual investor report ‘India’s Crypto Portfolio 2023’.
14. According to ‘PwC’s 2023 Global Risk Survey’, cybersecurity is the biggest threat for Indian organization.
15. National Consumer Right Day
16. Good Governance Day
17. Veer Baal Diwas
18. Manchester City has won the FIFA Club World Cup for the first time after beating Fluminense 4-0 in the 2023 final in Jeddah, Saudi Arabia.
19. Polish Tennis Player Iga Swiatek has become world’s highest paid female athlete in Forbes world’s highest-paid female athlete 2023.
20. Government of India and Asian Development Bank (ADB) have signed $100 million loan agreement to improve urban services and tourism facilities in Tripura.
21. Adani Green Energy Limited (AGEL) has signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) to supply 1,799 MW of solar power.
22. Reliance and Walt Disney have signed a non-binding agreement to merge Indian media operations.
23. Securities and Exchange Board of India (SEBI) has granted approval for the appointment of Pramod Agarwal as the Chairman of BSE Ltd.
24. North East Small Finance Bank (NESFB) has appointed former Andhra Bank managing director and chief executive officer Satish Kumar Kalra as its interim MD and CEO.
25. New book of Former Reserve Bank of India (RBI) governor Raghuram Rajan ‘Breaking the Mould: Reimagining India’s Economic Future’ has been released.
26. PM Narendra Modi has released ‘ Collected Works of Pandit Madan Mohan Malaviya’ on the occasion of his 162nd birth anniversary on 25th December.

National News

1. Union Minister of Health and Family Welfare Mansukh Mandaviya has launched ‘MedTech Mitra,’ a strategic initiative to empower MedTech innovators and advance healthcare solutions.
   • Objectives–
     • To support young talents in the country, provide guidance and shape their research, knowledge, and logic.
     • It also focuses on helping innovators to obtain regulatory approval for their medical technologies.
   • More about MedTech Mitra–
     • It is a collaborative initiative of the NITI Aayog, Indian Council of Medical Research (ICMR), and Central Drugs Standard Control organization.
     • It seeks to facilitate indigenous development of affordable and quality MedTech devices and diagnostics, reducing import dependence and fostering industry growth.
     • It will provide support at the approval stage, encourage indigenous development, and contribute to India’s self-reliance (Atmanirbhar) and the vision of Viksit Bharat.
     • It acts as a community and a harbinger of revolutionary change for budding entrepreneurs and innovators.
   • Projected Growth of MedTech Industry–
     • According to Union Minister Mansukh Mandaviya MedTech industry of India will grow to a $50 billion industry by 2030.
       Source: PIB
2. Cumulative installed capacity in rooftop solar segment in India has crossed 10 GW.
   • Key points–
     • Gujarat has topped the segment with a contribution of 30% to the total capacity.
     • Cumulative Roof Top Solar (RTS) installed capacity has increased to 10.4 GW as of November 30, 2023, from 1.8 GW as of March 31, 2019.
     • Share of Gujarat was 3.2 GW, followed by Maharashtra at 1.9 GW and Rajasthan at 1.1 GW capacity.
       Source: Hindu Business Line

State News

1. Himachal Pradesh Chief Minister has inaugurated 1st ever week-long Shimla Winter Carnival from 25 December 2023 to 5 Jan 2024 at the historic Ridge in Shimla.
   • More about Shimla Winter Carnival–
     • It aims to boost tourism in Himachal Pradesh and provide opportunity to visitors to experience the culture and art of Himachal Pradesh.
     • Event has been started with a cultural parade and the participation of 450 women presenting Mahanati, showcasing the talent of self-help groups and Anganwadi workers.
       Source: AIR

International News

1. Iran’s navy has added domestically produced advanced cruise missiles Talaeieh and Nasir.
   • More about Talaeieh and Nasir–
     • Talaeieh has a range of more than 1,000 kilometers (620 miles) and called it “fully smart” and it is capable of changing targets during travel.
     • Nasir has a range of 100 kilometers (62 miles) and can be installed on warships.
       Source: ET
2. India and Bangladesh have agreed to extend Indo-Bangladesh Protocol (IBP) route and declare Safardighi in West Bengal as the new port of call under Protocol on Inland Water Transit & Trade (PIWT&T).
   • Key points–
     • Both countries have agreed to form a technical team promptly to assess the inclusion of the Chandpur-Chittagong stretch as part of the Inland Water Transit route.
     • A joint committee will be established to implement a common Automatic Identification System (AIS) on the Inland Water Transit route for improved vessel navigation and tracking.
     • Bangladesh has agreed to include the Mongla-Jamtola stretch for passenger and cruise vessels, facilitating visits to the Sunderbans area in Bangladesh.
       Source: Business Standard

   
   
3. Angola has left Organisation of the Petroleum Exporting Countries (OPEC) due to dispute over oil production quotas.
   • More about Angola–
     • Angola is a Southern African nation.
     • Capital- Luanda

4. China has successfully launched three satellites into planned orbit by Long March-11 carrier rocket.
   • Satellite Shiyan-24C will be mainly used for space science and technology experiments.
     Source: tbs news

Banking and Economy

1. Small Industries Development Bank of India (SIDBI) has granted Rs 12.45 crore to ETO Motors to deploy 300 Electric 3-wheelers in Delhi and Hyderabad under SIDBI’s mission 50K-EV4ECO.
   • Objective–
     • To improve first and last-mile passenger connectivity in these cities.

   • What is SIDBI’s mission 50K-EV4ECO–
     • It is a scheme designed to strengthen the EV ecosystem in India.
     • It focuses on increasing the uptake of two-, three-, and four-wheelers through both direct and indirect lending.
     • It focuses on providing affordable financing for electric vehicles and to develop a robust charging infrastructure, including battery-swapping facilities.

2. World Bank and Department of Economic Affairs have launched PPP Beginner’s e-course to improve collaboration between public and private sectors in infrastructure capacity-building.
   • Objective–
     • To provide foundational knowledge and insights to individuals keen on understanding and contributing to the dynamic realm of PPPs in India.
   • More about e-course–
     • It comprises 5 modules which covers the major elements associated with lifecycle of PPP projects including-
       • Introduction to PPPs
       • Identification of PPP projects
       • Structuring of projects
       • Tendering and implementation
       • Monitoring aspects of PPP projects

     • Duration of the course is 7 hours and 15 mins which is designed to be self-paced.
     • There is no requirement of any prior experience in PPP to take this course.
       Source: PIB

     
     

3. National Bank for Agriculture and Rural Development (NABARD) has collaborated with the Asian Development Bank (ADB) and the Bill and Melinda Gates Foundation to address the adverse impact of climate change on the farming sector in India.
   • Objective–
     • To fund initiatives related to agricultural, natural resources, and rural development (ANR) to enhance food security and climate financing.

   • More about partnership–
     • NABARD will receive support to formulate a climate financing policy and adopt measures to address challenges posed by climate change, particularly in agriculture and rural livelihood sectors.
     • Partnership will identify and support programs in climate-resilient agriculture, agroforestry, irrigation modernization, agriculture value chain financing, crop diversification, micro-irrigation, and the JIVA program.
     • ADB will support capacity building in climate resilience and climate change financing through workshops and training sessions for NABARD and other relevant institutions.

   • About NABARD’s JIVA Program–
     • JIVA is a community-based participatory program for watershed and tribal areas, covering 2.5 million hectares with a funding commitment of about Rs 5,000 crore.
       Source: Hindu Business Line

   
   
   
   
4. Insurance Regulatory and Development Authority of India (IRDAI) is set to launch ‘Bima Vistaar’, an all-in-one affordable insurance product covering life, health, and property.
   • Objective–
     • To achieve the goal of insurance for all by 2047 and address gaps in product design, pricing, and distribution.

   • Key points–
     • It is a part of the “Insurance Trinity” vision by IRDAI, which includes Bima Sugam (a digital platform) and Bima Vahak (a women-led field distribution force).
     • Bima Vahak, the women-led insurance distribution channel, will be launched alongside Bima Vistaar, with guidelines already issued by IRDAI.
     • IRDAI believes that women “Vahaks” will effectively convey the importance of affordable social security to women in rural households.
     • New technologies like artificial intelligence (AI) and machine learning (ML) are being employed to create a digital platform for last-mile connectivity in insurance.

   
   

Source: Hindu Businessline

Reports and Indices

1. Kerala has emerged most preferred state to work in India as per India Skills Report 2024.
   • More about India Skills Report 2024–
     • Report is published by talent assessment agency Wheebox in association with various agencies including All India Council for Technical Education, Confederation of Indian Industry and Association of Indian Universities.
   • Key points–
     • Employability of India has improved, with 51.25% of surveyed youth possessing necessary skills.
     • Kerala has excelled in overall employability, securing second place among 18–21-year-olds, emphasizing a balanced education approach.
     • Kochi and Thiruvananthapuram have ranked higher for preferred work locations.
     • Diverse skill set of Kerala has enhances resilience in meeting job market demands.
       Source: The Hindu
2. CoinSwitch has published 2nd edition of its annual investor report ‘India’s Crypto Portfolio 2023’.
   • Key observations–
     • Delhi has topped crypto adoption in India (measured in terms of value invested).
     • More than 20% of India’s total crypto investments are concentrated in the three major metropolitan areas: Delhi (9%), Bangalore (8%) and Mumbai (5%).
     • About 75% of the invested users are below the age of 35.
     • Top invested cryptos were Dogecoin (DOGE), Bitcoin (BTC), and Ethereum (ETH) contributing to 26% of the total value.
     • Solana (SOL) was the best-performing crypto in India’s portfolio, with 633% growth year-to-date.
     • Delhi and Hyderabad saw the highest participation of women investors; 9% of India’s crypto investors are women.
     • Ghaziabad claimed the 10th position in the list of the top invested cities, replacing Patna from the spot.
       Source: cxotoday
3. According to ‘PwC’s 2023 Global Risk Survey’, cybersecurity is the biggest threat for Indian organization.
   • Key observations–
     • Cybersecurity has risen from the third to the first position on the risk radar compared to the 2022 survey.
     • Digital and technology risks are the primary concerns for Indian business leaders, constituting 35% of total responses.
     • Indian organizations are actively investing in cybersecurity tools (55%) and AI, machine learning, and automation technologies (55%) to counter cybersecurity challenges.
     • 71% of Indian organizations are collecting and analysing cybersecurity and IT data to identify opportunities and manage risks, compared to the global average of 61%.
     • 99% of Indian business leaders are confident in their organization’s ability to balance growth with effective risk management, with 66% being very confident. Globally, these figures are 91% and 40%, respectively.
   • Comparison with global peers–
     • Indian businesses view technology disruptors as opportunities, with 69% seeing Generative AI as an opportunity (compared to 60% globally).
     • 48% of Indian enterprises have deployed AI and machine learning for automated risk assessment and response, slightly lower than the global response of 50%.
     • 88% of Indian organizations have actively invested in building resilience in their ecosystem over the last 12 months, higher than the global average of 77%.
       Source: BW

Important Days

1. December 24– National Consumer Right Day
   Source: Quint
2. December 25– Good Governance Day
   • It is observed on the birth anniversary of former Prime Minister Atal Bihari Vajpayee.
     Source: AIR

3. December 26– Veer Baal Diwas
   • It is observed to mark the martyrdom of Guru Gobind Singh’s younger sons.
     Source: Indian Express
   
   
   
   
   
   

Sports

1. Manchester City has won the FIFA Club World Cup for the first time after beating Fluminense 4-0 in the 2023 final in Jeddah, Saudi Arabia.
   Source: mancity
2. Polish Tennis Player Iga Swiatek has become world’s highest paid female athlete in Forbes world’s highest-paid female athlete 2023.
   • More about Forbes list–
     • Iga Swiatek has been paid USD 23.9 million.
     • Indian Badminton player PV Sindhu is tied with American gymnast Simone Biles at 16th position with a total earning of USD 7.1 million.
   • Top ranks-

Source: Forbes

Memorandum of Understanding

1. Government of India and Asian Development Bank (ADB) have signed $100 million loan agreement to improve urban services and tourism facilities in Tripura.
   • More about the project–
     • Project will improve the municipal infrastructure and public services in urban local bodies (ULBs) along the main national highways in Tripura besides upgrading key tourism sites.
     • It will support the state as a gateway to the northeast region by developing tourist destinations along highways.
       Source: PIB

   
   
2. Adani Green Energy Limited (AGEL) has signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) to supply 1,799 MW of solar power.
   • Key points–
     • AGEL has completed the entire 8,000 MW power offtake tie-up for manufacturing linked solar tender, which is the largest green PPA.
     • It will enable sustainable energy landscape and it is aligned to India’s target of 500 GW non-fossil fuel capacity by 2030.

3. Reliance and Walt Disney have signed a non-binding agreement to merge Indian media operations.
   • More about agreement–
     • Under the merger agreement, Reliance Industries will hold 51% of stakes via a combination of shares and cash, while Disney will hold the remaining 49%.
       Source: livemint

   
   

Appointments

1. Securities and Exchange Board of India (SEBI) has granted approval for the appointment of Pramod Agarwal as the Chairman of BSE Ltd.
   • Appointment will be effective from January 17, 2024.

2. North East Small Finance Bank (NESFB) has appointed former Andhra Bank managing director and chief executive officer Satish Kumar Kalra as its interim MD and CEO.
   Source: livemint

Miscellaneous

1. New book of Former Reserve Bank of India (RBI) governor Raghuram Rajan ‘Breaking the Mould: Reimagining India’s Economic Future’ has been released.
   • Raghuram Rajan has written this book in collaboration with economist Rohit Lamba.
   • Published by– Penguin Random House India
     Source: livemint

2. PM Narendra Modi has released ‘Collected Works of Pandit Madan Mohan Malaviya’ on the occasion of his 162nd birth anniversary on 25th December.
   • Key points–
     • The event celebrated the 162nd birth anniversary of Mahamana Pandit Madan Mohan Malaviya, founder of Banaras Hindu University (BHU).
     • The collection consists of 11 bilingual volumes in English and Hindi, with over 4,000 pages.
     • It includes writings and speeches by Madan Mohan Malaviya from across India, which includes unpublished letters, articles, and memorandums.
     • The volumes also feature articles, pamphlets, and booklets authored by Malaviya over time.
     • Publications Division under the Ministry of Information and Broadcasting (MIB) has published these books.
       Source: PIB

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